VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jim Willie CB who wrote (45378)	12/19/2001 6:34:09 PM
From: Mannie	Read Replies (3) of 65232

JW & Ranger Rick.... Lets address the issue of valuation here a bit more. Rick you mentioned valuations in an earlier post today, or yesterday. In the last recession, market multiples bottomed out at around 7, today we are pushing 30......where can this market go with that kind of a headwind? Even if the economy begins to take off next year, we are still looking at a market PE in the mid-twenties. That is very rich. Barring anymore domestic terrorist attacks, I do think we will see the economy begin to improve late next year. But is there room for the market to follow? I think we will see this market roll over again, with a major buying op coming then. Sitting in cash & skiing a lot, Scott

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